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Peter L. Bernstein Editor , Aswath Damodaran Editor. Request permission to reuse content from this site. Undetected location. NO YES. Investment Management. Selected type: Paperback. Added to Your Shopping Cart. This is a dummy description. Investment Management provides a powerful package of systematic principles and cutting-edge applications for intelligent-and profitable-investing in the new world of finance.
Its authoritative approach to the investment process is indispensable for coming to grips with today's rapidly changing investment environment-an environment that bombards the investor with an oversupply of information, with novel and complex strategies, with a globalized trading arena in a constant state of flux, and with radical innovations in the development of new financial instruments. Traditional investment methods no longer suffice for investors managing their own funds or for professionals entrusted with the wealth of individual and fiduciary institutions.
Edited by Peter Bernstein and Aswath Damodaran, widely respected experts in the field, this authoritative resource brings together an all-star team that combines Wall Street savvy with profound theoretical skills. The hands-on professionals who have contributed to this volume command high respect among academics in finance; the academic contributors, in turn, are also experienced in the rough-and-tumble of the Wall Street scene. Together, they have designed the book to look at investing as a process-a series of steps, taken in the proper sequence, that provides the tools and strategies for optimal balancing of the interaction of risk and return.
The analysis is at all points comprehensive and lucid as it moves from setting investment objectives to the best methods for selecting securities, from explaining how to measure risk to how to measure performance, from understanding derivatives to minimizing taxes, and from providing the essentials of portfolio strategy to the basic principles of asset allocation. In a unique chapter, the book also offers a searching evaluation of management and governance structures in the modern corporation.
One form of risk management is to make such successful investments that losses do not matter. Only luck can achieve that result; the real world requires decisions whose outcomes are never known in advance. That is what risk is all about. Every stage of the investment process-from executing a trade to optimizing diversification-must focus on making rational choices under conditions of uncertainty. The successful investor's toolkit has more inside of it than just the essential apparatus for selecting securities and allocating assets.
The successful investor is also the one who has the knowledge, the confidence, and the necessary control systems to deal with the inevitable moments when forecasts go wrong. Investment Management explores the investment process from precisely this viewpoint. It is a comprehensive and accessible introduction to investing in today's challenging marketplace-an ideal resource for serious investors and students.
A state-of-the-art program in investment principles and applications from topflight professionals. Edited by Peter Bernstein and Aswath Damodaran, who are widely respected throughout the world of finance, this authoritative text brings together an all-star team to provide both a hands-on and theoretical overview of investing in today's challenging financial environment. Once upon a time, Wall Street lived off little homilies like, 'buy low and sell high,' 'nothing ventured, nothing gained,' and 'don't put all your eggs in one basket.
When wrapped into a body of theory that supports them with logic and a systematic set of principles, these elementary wisdoms pack a great deal of power. Yet if the theory is so consistent, logical, and powerful, another fabled Wall Street saying comes to mind: 'If you're so smart, how come you're not rich? This book is about the missing ingredients. Bernstein, Inc. A longtime participant in the world of finance as a money manager, teacher, and writer, he was the founder of the Journal of Portfolio Management and is the publisher of the biweekly, Economics and Portfolio Strategy.
He was voted one of the top twelve business educators in the United States by BusinessWeek. Permissions Request permission to reuse content from this site. Table of contents The Investment Setting. Risk and Utility: Basics. Models of Risk. Alternative Measures of Risk. Tax Considerations in Investing. Global Management and Asset Allocation. Active Asset Allocation. Asset Selection: Strategies and Evidence. Investment Strategy.
Trading Costs. The Hidden Costs of Trading. Managing Portfolio Risk. Evaluating Investment Performance. Taxes and Performance Evaluation.
Corporate Governance: Lessons from the s. Chapeter Notes.
I nvestment M anagement. This site is dedicated to the art and science of portfolio management. The material, reflecting my interests, is categorized into three areas. The first are the general tools that are needed to study portfolio management - the definition and measurement of risk, the notion of market efficiency and how to test for inefficiencies and the components and determinants of trading costs. The second is the process of portfolio management, which covers the mechanics of creating and managing a portfolio. The third is the area of investment philosophies, from value investing to growth investing to charting to indexing, and what underlies each philosophy and when and why some investors succeed with each philosophy and why others fail. Books: If you are using one of my three books on investment management, you can access the website supporting the book below:.
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Bernstein, Inc. A longtime participant in the world of finance as a money manager, teacher, and writer, he was the founder of the Journal of Portfolio Management and is the publisher of the biweekly, Economics and Portfolio Strategy. He was voted one of the top twelve business educators in the United States by BusinessWeek. The Investment Setting. Risk and Utility: Basics.